08-28-2013_3 FMIT WC Proposal FY1314 Village of North Palm Beach GEHPJNG AGROUP
Florida Municipal Insurance Trust (FMIT) I N 5 URA N C E RRO K E K S i CONSULTANTS
Workers' Compensation Insurance Proposal
Effective October 1, 2013
PGIT Current Program FMIT Proposal
Class . . - Description Class Rates per Preferred Governmental Insurance Florida Municipal
. . 00 Trust
Irrigation 0251 $ 5.54 $ 71,718 $ 71,718
Street or Road Maintenance 5509 $ 10.35 $ 495,918 $ 495,918
Firefighters 7704 $ 5.64 $ 1,707,944 $ 1,734,444
Police Officers& Drivers 7720 $ 4.45 $ 1,282,382 $ 1,288,382
Automobile Service or Repair 8380 $ 3.52 $ 142,988 $ 142,988
Clerical 8810 $ 0.27 $ 1,209,850 $ 1,209,850
Buildings-Operation by Owner 9015 $ 4.97 $ 541,627 $ 541,627
Club-Country,Golf, Fishing 9060 $ 2.37 $ 883,257 $ 883,257
Restaurant- Not Otherwise Classified 9082 $ 2.57 $ 540,441 $ 540,441
College or School-All Other Employees 9101 $ 4.97 $ 424,227 $ 424,227
Parks- Not Otherwise Classified 9102 $ 4.57 $ 625,799 $ 625,799
Garbage Ashes or Refuse 9403 $ 11.33 $ 787,125 $ 787,125
Municipal,Town, County Employees 9410 $ 2.98 $ 270,583 $ 270,583
Total Estimated Annual Payroll $ 8,983,859 $ 9,016,359
Annual Premium $ 346,125 $ 249,218
Gehring Group Service Fee (5%)* $ 17,306 $ 12,461
Annual Net Premium $ 363,431 $ 261,679
$Increase/Decrease N/A $ (101,752)
Increase/Decrease N/A -28%
Experience Modification Factor utilized in proposal 1.14
*The Service fee was included in the current program figures for comparison purposes,and does not represent the fee received by Public Risk Insurance Agency.